Sunday, August 14, 2022

BP exiting stake in Russian oil and gas company Rosneft

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BP said Sunday it is exiting its share in Rosneft, a state-owned Russian oil and gas company.

BP has held a 19.75% stake in Rosneft since 2013. The British company also said its CEO, Bernard Looney, and former BP executive Bob Dudley will immediately resign from Rosneft’s board.

“Like so many, I have been deeply shocked and saddened by the situation unfolding in Ukraine and my heart goes out to everyone affected. It has caused us to fundamentally rethink BP’s position with Rosneft,” Looney said in a statement.

Copyright © 2022 The Washington Times, LLC.

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